Y Intercept Hong Kong Ltd Purchases New Stake in Bank of Nova Scotia (The) $BNS

Y Intercept Hong Kong Ltd acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,740 shares of the bank’s stock, valued at approximately $5,665,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of Bank of Nova Scotia by 111.2% in the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock valued at $911,000 after purchasing an additional 10,056 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Bank of Nova Scotia in the second quarter valued at about $330,000. EverSource Wealth Advisors LLC increased its holdings in Bank of Nova Scotia by 42.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock valued at $120,000 after buying an additional 649 shares in the last quarter. Sei Investments Co. lifted its position in shares of Bank of Nova Scotia by 2.1% during the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock valued at $1,172,000 after acquiring an additional 434 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Bank of Nova Scotia by 61.1% during the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock worth $3,701,000 after acquiring an additional 25,400 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.0%

Shares of NYSE BNS opened at $85.36 on Friday. Bank of Nova Scotia has a 12-month low of $54.31 and a 12-month high of $87.97. The company has a market capitalization of $104.57 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $81.05 and its two-hundred day moving average is $76.02.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same period last year, the company posted $1.52 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BNS. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Finally, Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.